By Peter Omopo
Milan, Italy, September 10, 2025 — The Nigerian National Petroleum Company Limited (NNPCL) has unveiled a $60 billion gas expansion plan aimed at boosting industrialisation and cementing Nigeria’s role as Africa’s top destination for energy investment.
Group Chief Executive Officer of NNPCL, Bayo Ojulari, made the announcement on Tuesday during the Energy Talk session at the 2025 Gastech Exhibition and Conference in Milan, Italy.
According to a company statement signed by Chief Corporate Communications Officer, Andy Odeh, Ojulari urged international investors to take advantage of Nigeria’s vast oil and gas resources, noting that President Bola Tinubu has improved the nation’s investment climate.
“We are seeking at least $60 billion in investment over the next five to seven years to scale up gas production to 12 billion cubic feet per day and expand refinery capacity to meet rising global demand. This is just the tip of the iceberg,” Ojulari said.
He explained that while some investors have already committed funds to gas-based projects such as petrochemical and methanol plants, Nigeria still requires significant capital inflows to build infrastructure, including support for the government’s plan to power the transport sector with Compressed Natural Gas (CNG).
Highlighting Nigeria’s oil potential, Ojulari noted that the country holds over 200 undeveloped oil fields and significant untapped crude reserves beyond the current output of 1.7 million barrels per day.
He also cited progress on major infrastructure projects, including the Ajaokuta–Kaduna–Kano (AKK) gas pipeline and NLNG Train 7, alongside NNPCL’s ongoing investments in carbon capture technology and gas flare reduction to align with global energy transition goals.
“Our energy transition strategy is anchored on gas as the fuel for industrialisation and LPG as cooking gas for households. The focus is on eradicating energy poverty across Africa, where over six million people still lack access to clean energy,” he added.
The Gastech 2025 conference brought together more than 50,000 professionals and 1,000 exhibitors from 150 countries, providing a global platform for energy leaders to deliberate on the future of the industry.
